JCPenney Shares Surge as Soros Reveals Big Stake

Billionaire informs SEC he owns 8%
By Newser Editors and Wire Services
Posted Apr 25, 2013 3:52 PM CDT
JCPenney Shares Surge as Soros Reveals Big Stake
George Soros speaks in Berlin last year.   (AP Photo/Thomas Peter, Pool)

Finally, a spark of hope for floundering JCPenney. Shares of the retailer were up more than 6% in aftermarket trading today after billionaire financier George Soros disclosed a 7.9% stake in the company. Soros disclosed he owns about 17.4 million shares in a filing with the Securities and Exchange Commission. The SEC requires shareholders to disclose stakes of 5% or more in a company. Shares were up 98 cents, or 6.4%, to $16.22 in aftermarket trading, after ending 5 cents higher at $15.24. (More JCPenney stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X